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Morguard Corp T.MRC

Alternate Symbol(s):  MRCBF

Morguard Corporation is a Canada-based real estate company. The Company’s principal activities include property ownership, development and investment advisory services. Property ownership encompasses interests in multi-suite residential, commercial and hotel properties located in Canada and the United States. The Company owns a diversified portfolio of 178 multi-suite residential, retail, office, industrial and hotel properties comprised of 17,566 residential suites, approximately 17.1 million square feet of commercial leasable space. The Company also owns a 65.0% interest in Morguard Real Estate Investment Trust and a 45.3% effective interest in Morguard North American Residential Real Estate Investment Trust. It also provides advisory and management services to institutional and other investors. The Company's subsidiaries include Morguard Real Estate Investment Trust and Morguard North American Residential Real Estate Investment Trust.


TSX:MRC - Post by User

Post by pierrelebelon Aug 03, 2022 6:44pm
220 Views
Post# 34869747

NCIB

NCIB
On September 17, 2021, the Company obtained the approval of the TSX under its normal course issuer bid (“NCIB”)to purchase up to 555,024 common shares, being approximately 5% of the issued and outstanding common shares, and the program expires on September 21, 2022. The daily repurchase restriction for the common shares is 2,088. During thesix months ended June 30, 2022, 5,000 common shares were repurchased for cash consideration of $611,000 at a weighted average price of $122.20 per common share

5,000 shares repurchased folks!!! That's it!!!  Clearly management is NOT supporting the share price with NCIB.  What's the point?

 
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